‘Continuity' amid BSP leadership change

February 27, 2019

Malacañang on Tuesday said it expects continuity of the work in the Bangko Sentral ng Pilipinas (BSP) amid the leadership change following the demise of its governor Nestor Espenilla Jr.

"I suppose it’s the same, it’s the continuity of the work done by the previous governor," Presidential Spokesperson Salvador Panelo said in a Palace briefing when asked on the Palace's expectations for the next BSP governor.

Panelo said President Rodrigo R. Duterte is looking for integrity and competence as the primary qualifications for the next BSP chief.

"We do not know yet who will it be," Panelo added.

Panelo said it is within the President's prerogative whether to appoint a BSP insider for the central bank's top post.

He said there is a tentative schedule for the President's visit in Espenilla's wake.

Espenilla Jr., 60, died on Saturday after battling tongue cancer since late 2017.

Duterte appointed Espenilla on July 3, 2017 after the end of the two six-year terms of BSP Gov. Amando Tetangco Jr.

Prior to his appointment as BSP chief, Espenilla headed, as Deputy Governor, the central bank’s Supervision and Examination Sector, which oversees banks and non-bank institutions.